Delcy Rodríguez confirms oil deal with the United States

Venezuela's interim president, Delcy Rodríguez, has announced a "historic" energy agreement with the United States, marking a significant step in the restoration of diplomatic ties between Caracas and Washington. The deal, confirmed on Friday, August 28, 2026, is poised to revitalize the Venezuelan oil industry and attract substantial foreign investment.

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These investments will contribute not only to the recovery and modernization of our industry but also to the economic growth of our country, the energy security of our hemisphere, and greater balance in international markets.

The agreement outlines the development of 17 strategic oil fields, with projections of attracting over $100 billion in private investment. This influx of capital is expected to generate approximately $209 billion in tax revenues for the Venezuelan state. Rodríguez stated that the funds will be crucial for rebuilding industrial infrastructure and stimulating local employment, signaling a new era of economic recovery and prosperity for the nation.

Rodríguez highlighted the potential of the newly accessible oil fields, which hold proven reserves of 65 billion barrels. She asserted that the investments will not only modernize the energy sector but also contribute to the economic growth of Venezuela, enhance energy security within the hemisphere, and promote greater balance in international markets. The announcement follows recent reports indicating that Venezuela's oil production has reached 1.23 million barrels per day.

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Venezuela thus consolidates a new stage of recovery, growth, production, security, and prosperity for our people.

The confirmation from Caracas comes shortly after statements from U.S. President Donald Trump, who described the negotiation as the largest oil deal in world history. Trump indicated that the transaction would ensure majority control for U.S. companies over the negotiated fields and double America's oil reserves. Secretary of State Marco Rubio, who reportedly led the negotiations alongside Secretary of War Pete Hegseth, hailed the alliance as a decisive bilateral achievement, stating it represents a significant victory for both the American and Venezuelan people.

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It is a huge win for both the American and Venezuelan people.